Financial Report: Biogen

Biogen
2Q Revenues: $3.1 billion (+6%)
2Q Earnings: $863 million (-18%)
YTD Revenues: $5.9 billion (+5%)
YTD Earnings: $1.6 billion (-20%)
Comments: Growth was driven by MS revenues, which increased 5%. This included a 13% increase in TECFIDERA to $1.1 billon. SPINRAZA revenues grew to $203 million and BENEPALIT revenues increased to $89 million in the quarter. Avonex sales were down 8% to $691 million. Tysabri sales were flat at $496 million. Plegridy sales were $133 million, up 8%. Biosimilar sales were $91 million in the quarter, up from $15 million 2Q16. In 1Q17, Biogen completed the separation of its global hemophilia business into a new company, known as Bioverativ. The 15% increase in total revenues excludes all hemophilia revenues from 2Q16. Hemophilia revenues include ELOCTATE and ALPROLIX product revenues as well as royalty and contract manufacturing revenue related to Sobi.